Strs Ohio Takes $244,000 Position in KB Home $KBH

Key Points

• Strs Ohio acquired a new stake in KB Home worth approximately $244,000 by purchasing 4,200 shares in the first quarter.
• Recent analyst reports have set mixed price targets for KB Home, with UBS Group reducing their target from $86 to $80, while Wells Fargo raised theirs from $50 to $60, reflecting varied sentiment towards the company's performance.
• The company's quarterly earnings report showed a decline in revenue by 7.4% year-over-year, although it exceeded analysts' expectations with an earnings per share of $1.61.

Strs Ohio bought a new stake in shares of KB Home (NYSE:KBH - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,200 shares of the construction company's stock, valued at approximately $244,000.

Several other large investors have also recently made changes to their positions in the business. Harbor Capital Advisors Inc. increased its holdings in KB Home by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after acquiring an additional 258 shares during the last quarter. Sachetta LLC increased its holdings in KB Home by 3,142.9% in the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after acquiring an additional 660 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in KB Home in the 1st quarter worth about $40,000. Byrne Asset Management LLC increased its holdings in KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after acquiring an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in KB Home by 30.1% in the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock worth $56,000 after acquiring an additional 221 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KBH has been the subject of several recent research reports. UBS Group decreased their price objective on KB Home from $86.00 to $80.00 and set a "buy" rating for the company in a report on Tuesday, June 24th. Wall Street Zen upgraded KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods cut their target price on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Thursday, June 26th. Wells Fargo & Company raised their target price on KB Home from $50.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, September 2nd. Finally, Evercore ISI dropped their price target on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.05.

Insider Activity

In other news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total transaction of $749,280.00. Following the transaction, the chief operating officer directly owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.89% of the company's stock.

KB Home Stock Performance

NYSE:KBH opened at $62.45 on Thursday. The business has a 50 day moving average of $61.56 and a 200 day moving average of $56.95. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 8.27, a PEG ratio of 5.07 and a beta of 1.36. KB Home has a 1-year low of $48.90 and a 1-year high of $86.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60.

KB Home (NYSE:KBH - Get Free Report) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.50 by $0.11. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.KB Home's quarterly revenue was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.04 EPS. On average, sell-side analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home's payout ratio is 13.25%.

KB Home Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.

Want to see what other hedge funds are holding KBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Home (NYSE:KBH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.